Nigerian Stock Exchange
Completion of the 10 -year demutualisation project of the Nigerian Stock Exchange (NSE) has opened a new vista, especially growth prospects in the bourse, as more people are likely to deepen investments and project the organisation more to the world.
The move, which would usher in the public listing of the exchange’s shares, was finalised yesterday following approvals from the Securities and Exchange Commission (SEC) and the Corporate Affairs Commission (CAC).
Demutualisation is the transformation of a stock exchange into a public company that is shareowner-based. It allows the shares of the bourse to be quoted on its floor.
The Nigerian Stock Exchange (NSE) has received final approval of its demutualization plan from the Securities and Exchange Commission (SEC) and Corporate Affairs Commission (CAC) respectively, signalling the completion of the demutualization process. Under the plan, a new non-operating holding company, the Nigerian Exchange Group Plc (‘NGX Group’) has been created. Wike mocks Amaechi, says […]
By Goddy Egene
Stakeholders in the capital market have hailed the final approval given by the Securities and Exchange Commission (SEC) and the Corporate Affairs Commission (CAC) for the demutualisation of the Nigerian Stock Exchange (NSE), saying it will lead to the growth of the market and the economy.
The approval by SEC and CAC has led to the completion of the demutualisation process of the exchange, transforming it into a profit-making and limited liability company.
With the demutualisation, a new non-operating holding company, the Nigerian Exchange Group Plc (NGX Group), has been created with three operating subsidiaries.
The subsidiaries are: Nigerian Exchange Limited (NGX Limited), which will be the operating exchange; NGX Regulation Limited (NGX REGCO), the independent regulation company; and NGX Real Estate Limited (NGX RELCO), the real estate company.
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